Aramco Supplies US With Carbon-Offset Crude

...ble). The emissions were derived from a baseline assessment of operations between October 2022 and September 2023. The process was independently verified by London-headquartered LRQA. Aramco says that the offsetting is in accordance with PAS 2060:2014, which states that offsets compensate for gr...

Iraq Unveils Optimistic Production Capacity Targets

...e planned production targets (PPT) at key fields were being revised down. For instance Iraq’s biggest field – the 1.45mn b/d capacity Rumaila (BECL: BP 47.63%, CNPC 46.37%, Somo 5%) – has had its PPT revised down from 2.85mn b/d to 2.1mn b/d in 2014 and then down to just 1.7mn b/d last year (ME...

Eni In Algeria: Looking For Growth

...Eni’s net Algeria output has steadily fallen since a peak in 2014, but recent moves by the Italian major look set to reverse this trend. The potential acquisition of sizeable BP assets would nearly double Eni’s net Algeria gas output. As many international oil companies have shunned Al...

Libya’s Oil Revenues Surge

...nthly numbers of Libya’s crude oil production have been pretty much non-existent for the past six years. But with the arrival of a new unity government in March, which includes an oil minister for the first time since 2014, Libya has begun to submit monthly production stats to Opec. Official figures pu...

Libya’s North Hamada: Development At Last?

...ree wells in 2014 which were all successful, leading the government to declare second commerciality for structures B, C and J. By this time, Nafusah Oil Operations was set up consisting of Medco (25%op), LIA (25%) and NOC (50%) to handle development. Development plans are based on 2P reserves of 245mn ba...

Bahrain Takes $300mn Oil Revenue Hit From Abu Safah Outage

...oduction edged up to a record 2.08bn cfd in 2017, beating 2015’s previous high of 2.06bn cfd. However, gas re-injection rose 6% to a new high of 600mn cfd, reducing the volumes of sales gas to 1.47bn cfd – below 2014’s 1.50bn cfd record. That gas reinjection levels rose to a new high despite a no...

Tunisia Output Collapses: Southern Fields Shut In, No End In Sight To Protests

...in the wake of Tunisia's 2011 uprising. The lack of perceived benefits to locals from oil and gas output has been a recurrent theme. The Nawara project, previously known as the ‘South Tunisia Gas Project’ gave rise to protests in the south of the country even before it was sanctioned in 2014...

Egypt’s Med Gas Output Collapse: Can Even Zohr Make Up The Losses?

...tes ranging from 14% to an eye-watering 28% last year alone (see table). Collective output of 1.24bn cfd for 2015 (29% of Egypt’s total gas output) is down by 290mn cfd on 2014 and by a massive 765mn cfd (38%) on 2012’s peak 2.00bn cfd output. These four blocks alone account for a full 49% of Egypt’s ov...

Iraqi Monthly Export Revenues Up 50% From February’s Seven-Year-Low But Less Than Half 2014 Levels

Egypt Doubles Down On Attempts To Reverse Gas Slump

...ese deepwater blocks were awarded to Egypt’s key gas producers BP and Eni (MEES, 3 October 2014). The new blocks are more or less enclosed by, to the west, the blocks that are set to form part of the BP/Dea West Nile Delta (WND) project, by BG’s key West Delta Deep Marine (WDDM) blocks to the so...

LNG, Private Imports To Bridge The Gas Deficit

...ars under a deal signed in November last year (MEES, 7 November 2014), but Höegh LNG CEO Richard Tyrrell tells the firm’s 28 May Q1 conference call that  “our general feeling is that [Egypt is] looking for long-term solutions.” “I think it is a project that people are really going to pay attention to be...

Algeria’s Upstream Investment: Running To Stand Still

...geria has set itself the goal of boosting gross hydrocarbon output to an annual 225mn tons of oil equivalent (toe) by 2019, up 12.5% on the 2014 figure of 200mn toe (see graph), according to the latest version of the country’s five-year energy plan published earlier this month by Algeria’s Ministry of En...

Iraq Seeks Chinese Funding For Crucial Water Injection Project

...ve to supply the foreign operators with more oil in the months ahead. It had already ramped up the volumes of crude to the IOCs since the middle of 2014, when oil prices began to fall, as the value of the barrel declined. Payments in kind to the foreign operators accounted for roughly 30% of total ex...

DNO Reports New Tawke Production Record

...or Mor gas field increased marginally by 3.7% to 30,400 b/d of oil equivalent compared with 29,300 boe/d in the corresponding quarter of 2014, while LPG sales doubled year-on-year. The LPG plant is producing at near capacity having returned from suspension in July 2014 and sales have increased su...

KRG At Point Of No Return As Baghdad Sues Over Oil Sale

...r failing to meet its 2014 export commitment of 400,000 b/d. It also dismissed a KRG invitation to SOMO to observe the independent sales, saying the state marketer’s role was not that of observer. The KRG halted oil exports from the semi-autonomous province in 2013 because of the dispute with Ba...

Output Continues To Slide As South Sudan Conflict Rumbles On

...eater Pioneer Operating Company (GPOC), and 5,000 b/d from the fields in Block 5A, operated by the Sudd Petroleum Operating Company. All Unity production has been offline since the second week of 2014 though, after rebel forces temporarily took control of the fields in the state, and damaged key in...